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Enron Mail |
I reworked the debt section to eliminate tranche 1. Tranche 2 now amortizes
years 1-10 and pays 11% interest. Tranche 3 amortizes years 11-20 with interest of 11.2%. I re-solved for optimal amortization schedules and face amounts to get a minimum coverage ratio of 2.25x and an average coverage of 3.25x. I removed some references to the amortization of the power contract that Jinsung pointed out. I also re-hardcoded the state franchise tax for Gleason. Let me know what else needs re-working.
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